3,000 Shares in ResMed Inc. $RMD Acquired by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc purchased a new position in shares of ResMed Inc. (NYSE:RMD) in the 2nd quarter, Holdings Channel reports. The firm purchased 3,000 shares of the medical equipment provider’s stock, valued at approximately $585,000.

A number of other large investors also recently modified their holdings of RMD. BlackRock Inc. purchased a new position in ResMed in the second quarter valued at $2,400,375,000. State Street Corp raised its stake in ResMed by 1.2% in the fourth quarter. State Street Corp now owns 6,625,408 shares of the medical equipment provider’s stock valued at $1,595,862,000 after buying an additional 76,244 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in ResMed by 0.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,925,386 shares of the medical equipment provider’s stock worth $1,105,651,000 after buying an additional 34,732 shares during the last quarter. Geode Capital Management LLC lifted its holdings in ResMed by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 4,302,906 shares of the medical equipment provider’s stock worth $1,032,877,000 after buying an additional 51,218 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of ResMed by 25.0% during the 4th quarter. Morgan Stanley now owns 2,891,697 shares of the medical equipment provider’s stock worth $696,523,000 after acquiring an additional 578,559 shares in the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the completion of the sale, the director directly owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. This represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the transaction, the chief executive officer owned 466,256 shares in the company, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 22,973 shares of company stock valued at $4,885,436. 0.65% of the stock is owned by company insiders.

ResMed Stock Down 1.8%

RMD opened at $220.37 on Tuesday. The business’s 50-day simple moving average is $204.54 and its 200-day simple moving average is $220.64. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.42 and a current ratio of 3.10. ResMed Inc. has a one year low of $180.26 and a one year high of $293.81. The stock has a market capitalization of $31.97 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The firm had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.55 EPS. Analysts anticipate that ResMed Inc. will post 12.03 EPS for the current year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, August 20th will be paid a $0.66 dividend. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Thursday, August 20th. ResMed’s dividend payout ratio (DPR) is presently 23.01%.

Wall Street Analyst Weigh In

RMD has been the topic of a number of recent analyst reports. Mizuho dropped their price objective on ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, July 15th. Robert W. Baird set a $213.00 target price on ResMed in a research note on Friday, August 7th. Jefferies Financial Group lowered their price target on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. The Goldman Sachs Group reissued a “buy” rating on shares of ResMed in a report on Wednesday, July 1st. Finally, Morgan Stanley restated an “equal weight” rating and issued a $230.00 target price (down from $286.00) on shares of ResMed in a report on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $240.17.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.